Company tax ‘under pressure’

IRELAND’S company tax system will come under renewed pressure from France and Germany at the EU summit later this month.

Both countries say that harmonising the way corporation tax is assessed and introducing a financial transaction tax on the banking industry will help generate growth and jobs in the EU.

German chancellor Angela Merkel and French president Nicolas Sarkozy have prepared a document, Ways out of the crisis — strengthen growth now, for the summit.